Form 4: ConnectOne Bancorp Executive William S. Burns Reports Stock Transactions

William S. Burns, Senior EVP & CFO of ConnectOne Bancorp, reports acquisition and disposal of company stock due to performance units and tax withholdings.

Summary

• On March 19, 2025, William S. Burns acquired 5,886 shares of ConnectOne Bancorp common stock related to earned performance units granted on March 25, 2022.
• On the same day, Burns disposed of 2,943 shares to cover tax withholdings at a price of $24.01 per share.
• On March 20, 2025, Burns disposed of 2,212 shares to cover tax withholdings at a price of $23.59 per share related to deferred stock units vesting on the same day from a grant on March 20, 2023.
• Also on March 20, 2025, Burns was granted 8,503 deferred stock units that vest over three years.
• Following these transactions, Burns directly owns 130,709 shares of ConnectOne Bancorp common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as the transactions are part of a pre-existing compensation plan and tax obligations. The vesting of performance units is a slightly positive signal.

Positives

• The acquisition of 5,886 shares indicates that performance targets were met, triggering the vesting of performance units.
• The grant of 8,503 deferred stock units suggests continued confidence in Burns' role and future contributions to the company.

Future Outlook

The executive's holdings will increase as the deferred stock units vest over the next three years, contingent on continued employment.

Industry Context

Executive stock transactions are common and often tied to performance and compensation packages. Monitoring these transactions can provide insights into management's sentiment about the company's prospects.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates

Keywords

ConnectOne Bancorp, William S. Burns, Form 4, Stock Transactions, Performance Units, Deferred Stock Units, Tax Withholding, CNOB